Israeli high-tech firm ThetaRay will offer a financial crime-detection tool that monitors transactions for the Emirati bank Mashreq, the companies announced on Monday.

This is ThetaRay’s first licensing agreement with a bank from the United Arab Emirates, said chief executive Mark Gazit, according to Reuters.

The Israeli company uses artificial intelligence to identify cyber financial threats such as fraud and money-laundering.

“It’s almost like a scanning machine,” Gazit told Reuters.

He added that he hoped the deal would lead to more in the UAE and other Gulf states and Arab countries.

Dubai-based Mashreq had previously paid fines for violating U.S. sanctions. The UAE is seeking to increase banking regulations.

JNS

Support
Jewish News Syndicate


With geographic, political and social divides growing wider, high-quality reporting and informed analysis are more important than ever to keep people connected.

Our ability to cover the most important issues in Israel and throughout the Jewish world—without the standard media bias—depends on the support of committed readers.

If you appreciate the value of our news service and recognize how JNS stands out among the competition, please click on the link and make a one-time or monthly contribution.

We appreciate your support.